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IMF expects Kazakhstan’s breakeven oil price to decrease

Oil&Gas Materials 24 October 2016 14:45 (UTC +04:00)
International Monetary Fund expects breakeven oil price will decrease in 2016 and 2017

Baku, Azerbaijan, Oct. 24
By Elena Kosolapova - Trend:
International Monetary Fund expects breakeven oil price will decrease in 2016 and 2017, IMF said in its Regional Economic Outlook on the Middle East and Central Asia published in Oct.

Fiscal breakeven oil price in Kazakhstan will hit $82.7 per barrel in 2016 and $71.1 per barrel in 2017 compared to $88.1 per barrel in 2015, according to IMF forecast. External breakeven oil price in Kazakhstan will hit $86.7 per barrel in 2016 and $82.7 per barrel in 2017 compared to $84.5 per barrel in 2015.

IMF forecasts oil production in Kazakhstan will remain at 1.6 million barrels per day in 2016 and 2017 as it was in 2015.
Kazakhstan’s oil GDP will decrease by 2.5 percent in 2016 and will increase by 2.4 percent in 2017, according to IMF forecast. Kazakhstan’s non-oil GDP will decrease by 0.2 percent in 2016 and remain unchanged in 2017. In 2015 Kazakhstan’s oil GDP decreased by 1.3 percent, non-oil GDP rose by 2.3 percent, according to IMF.

Kazakhstan's proven oil reserves as of early 2016 stood at 30 billion barrels, according to the BP Statistical Review of World Energy.

Follow the author on Twitter: @E_Kosolapova

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